21 May 2010

Congress Can't Face Their Deficit Mess

The Hill: Next year's budget sinking in deep red ink

The Congressional Budget Office has estimated that Obama’s policies would lead to deficits averaging nearly $1 trillion over the next decade.

The chance that the majority Democrats will pass a budget this year is “fading,” Senate Budget Committee Chairman Kent Conrad (D-N.D.) said Tuesday.

He is pessimistic because House Democrats don’t know whether they want to pass a resolution that would officially acknowledge the certainty of big deficits.

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